According to Chris Maathuis of 8 News Now, "those with direct knowledge of the sale" will be on air in the morning Monday to discuss details of the sale. They also interviewed White and Lorenzo Fertitta in regards to the transaction.

According to The New York Times, talent giant WME-IMG purchased the promotion with backing from Silver Lake, Kohlberg Kravis Roberts, and billionaire Michael S. Dell.

FloSports' Jeremy Botter was first to report news of the sale weeks ago, regularly updating the story as more information became available.

According to reports, Frank and Lorenzo Fertitta will stay on with a minority share. Dana White will stay on in a promotional capacity as UFC president.

UPDATE:

WME-IMG has released a statement to the media relating to the purchase of the UFC. The company says it will focus on accelerating the sport’s popularity and presence around the world.

“No other sport compares to UFC,” said White. “Our goal has always been to put on the biggest and the best fights for our fans, and to make this the biggest sport in the world. I’m looking forward to working with WME-IMG to continue to take this sport to the next level.”

According to the release, Lorenzo Fertitta will step down from day-to-day operations, but Frank and Lorenzo Fertitta will both retain a passive minority interest in the organization.